(Bloomberg) -- Air Canada said it's poised to recover most of its pre-pandemic capacity this year, issuing a bright outlook for travel as the nation relaxes restrictions and Canadians try to move on from the gloom of the Covid-19 pandemic.
The carrier expects to recover 75% of the total seats offered in 2019, a 150% bump compared to 2021, according to a statement Wednesday.
“With the pandemic receding and travel returning, Air Canada has put in place a strategy to return to profitability and increase long-term shareholder value,” Chief Executive Officer Michael Rousseau said.
Air Canada shares were trading slightly higher in early trading in Toronto. They rose almost 4% on Tuesday.
To prepare for the expected rise in travel demand, the carrier has reinstated all of its Airbus SE A220 orders that were canceled in November 2020 and said it plans to buy 26 Airbus A321neo extra-long range aircraft.
Canada's flagship airline also said it expects the cost per available seat mile -- excluding fuel expense -- to rise as much as 15% in 2022 compared with 2019.
Air Canada in Talks to Add Airbus A321s as Covid Gloom Lifts
Canada, which enforced one of the toughest pandemic restrictions globally, has been gradually opening up the country, including lifting an official advisory against leisure travel. And starting April 1, vaccinated travelers will no longer require a pre-entry Covid test.
©2022 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
